The Following Amounts Are Taken from the Balance Sheets of Baltic

question 183

Essay

The following amounts are taken from the balance sheets of Baltic Corporation:
$$\begin{array} { | l | r | r | } \hline & \text { Dacember } 31,2010 & \text { Dacember } 31,2009 \\\hline & & \\\text { Accrued liabilities } & \$ 44,000 & \$ 37,500 \\\text { Prepaid expenses } & 14,000 & 18,500 \\\hline\end{array}$$ During 2010,expenses related to accrued liabilities were $30,500,and expenses related to prepaid expenses were $21,000.
a. Compute cash payments related to accrued liabilities.
b. Compute cash payments related to prepaid expenses.

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Definitions:

Oregon Vocational Interest Scales

A psychometric instrument used to assess individuals' career and vocational interests to guide them in their career planning.

Holland Scale Dimension

Refers to one of six personality types—Realistic, Investigative, Artistic, Social, Enterprising, and Conventional—proposed by John Holland in his theory of career and vocational choice.

Adventure Career Type

A career path characterized by a high level of dynamism, risk-taking, and the seeking of new experiences and challenges.

Social Dimension

Aspects of life and interactions that involve the organization, structure, and dynamics of societies or communities.